Inasmuch as OCRX previously projected a year-end 2015 cash balance of $19-23M (#msg-113235511), an additional $20M (less interest payments) will cover OCRX’s cash burn for 2 years or so—i.e. beyond the likely reporting date for the STOP-HE study. In return, OCRX will have to issue 800K warrants (if the full $20M is borrowed). All told, not a bad tradeoff, IMO.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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